Sec. 173.303. BONDS AS AUTHORIZED INVESTMENTS AND SECURITY FOR DEPOSITS OF PUBLIC FUNDS. (a) District bonds and notes are legal and authorized investments for:
(1) a bank;
(2) a trust company;
(3) a savings and loan association; and
(4) an insurance company.
(b) The bonds and notes are:
(1) eligible to secure the deposit of public funds of this state or a municipality, a county, a school district, or any other political corporation or subdivision of this state; and
(2) lawful and sufficient security for the deposit to the extent of the principal amount or market value of the bonds or notes, whichever is less.
Added by Acts 2009, 81st Leg., R.S., Ch. 85 (S.B. 1540), Sec. 2.04, eff. April 1, 2011.
Structure Texas Statutes
Subtitle I - Special Districts
Chapter 173 - Intermunicipal Commuter Rail Districts
Section 173.301. Revenue Bonds
Section 173.302. Security for Payment of Bonds
Section 173.303. Bonds as Authorized Investments and Security for Deposits of Public Funds
Section 173.304. Limit on Power
Section 173.305. Tax Increment Fund for Transportation Infrastructure Zone in Certain Districts